Commerzbank Aktiengesellschaft FI lowered its position in Target Co. (NYSE:TGT) by 25.0% during the 3rd quarter, Holdings Channel reports. The firm owned 23,817 shares of the retailer’s stock after selling 7,925 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Target were worth $2,546,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. lifted its holdings in Target by 0.3% during the second quarter. First Citizens Bank & Trust Co. now owns 38,132 shares of the retailer’s stock worth $3,302,000 after buying an additional 115 shares during the period. Weiss Asset Management LP raised its stake in Target by 4.6% in the 2nd quarter. Weiss Asset Management LP now owns 2,788 shares of the retailer’s stock worth $241,000 after acquiring an additional 123 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in Target by 2.8% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 4,522 shares of the retailer’s stock worth $392,000 after acquiring an additional 125 shares during the last quarter. First Command Bank raised its stake in Target by 13.9% in the 3rd quarter. First Command Bank now owns 1,023 shares of the retailer’s stock worth $109,000 after acquiring an additional 125 shares during the last quarter. Finally, Copperwynd Financial LLC raised its stake in Target by 2.0% in the 2nd quarter. Copperwynd Financial LLC now owns 6,563 shares of the retailer’s stock worth $568,000 after acquiring an additional 126 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.
In other news, CAO Robert M. Harrison sold 13,540 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $104.66, for a total transaction of $1,417,096.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cathy R. Smith sold 8,412 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $104.40, for a total value of $878,212.80. The disclosure for this sale can be found here. Insiders have sold a total of 83,478 shares of company stock worth $8,915,363 over the last ninety days. 0.24% of the stock is owned by insiders.
Shares of TGT opened at $112.81 on Monday. The business’s 50-day moving average is $108.48 and its two-hundred day moving average is $90.06. The company has a market capitalization of $57.85 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.60 and a beta of 0.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. Target Co. has a fifty-two week low of $60.15 and a fifty-two week high of $113.74.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. The company had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. Analysts forecast that Target Co. will post 6.15 EPS for the current year.
Target announced that its board has approved a share buyback plan on Thursday, September 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the retailer to purchase up to 9.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, November 19th. Target’s dividend payout ratio is currently 48.98%.
A number of equities analysts recently issued reports on TGT shares. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $130.00 in a research note on Thursday, August 22nd. Barclays set a $115.00 target price on Target and gave the stock a “buy” rating in a research note on Wednesday, August 21st. ValuEngine lowered Target from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $99.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. set a $115.00 target price on Target and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Target currently has a consensus rating of “Buy” and a consensus target price of $105.87.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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